According to the latest report by IMARC Group, titled “Employment Screening Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global employment screening services market size reached US$ 4.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.9 Billion by 2027, exhibiting a growth rate (CAGR) of 8.4% during 2022-2027.
Employment screening services refer to the investigation of the educational, credit and criminal background of a candidate by the employer or the organization. These services are utilized to verify the accuracy of the information and ensure that the candidates have the necessary credentials. They include verification of the previous organization, bankruptcy checks, job titles, address confirmation, seniority and salary confirmations. Employment screening services provide improved safety and security, regulatory compliance, quality of hiring and minimal risks of workplace violence. As a result, they find extensive application across transportation, healthcare, hospitality and education industries.
The global employment screening services market is primarily being driven by the rising focus on the enhanced quality of the workforce. Employment screening services aid in strengthening the recruitment process and screening of the candidates efficiently. Moreover, various technological advancements, such as the integration of artificial intelligence (AI) and machine learning solutions, that assist in defining the skills and automatically selecting the suitable candidates, are providing a thrust to the market growth. Other factors, including a significant rise in the number of startups, along with the development of cloud-based recruiting and staffing solutions, are anticipated to drive the market toward growth.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Breakup by Service:
- Criminal Background Checks
- Education and Employment Verification
- Credit History Checks
- Drug and Health Screening
Breakup by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Breakup by Application:
- IT & Technology and Media
- Financial Services
- Travel and Hospitality
- Government and Education
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- A-Check America Inc
- ADP Inc
- Capita PLC
- CareerBuilder LLC
- Experian plc
- First Advantage
- HireRight LLC
- Paychex Inc
- Paycor Inc
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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